TSL Express Daily Articles & News

Monterey Financial Services and Continental Central Credit are both distinguished companies that have been servicing clients for decades in the delinquent debt recovery space. For over thirty years, Monterey has provided receivable purchasing, servicing, and delinquent debt recovery solutions, providing superior options for businesses wanting to create and maximize their alternative financing options.

IDS, a leading provider of mission-critical enterprise solutions for secured finance, announced it was named one of the top 100 financial technology providers in the world by IDC Financial Insights, ranking 69th on the 2021 IDC FinTech Rankings. The 18th annual vendor ranking recognizes the world's leading hardware, software, and service providers to the financial services industry.

In recent weeks, Hilco Terracota, a subsidiary of Hilco Global and Hilco Global Mexico, was appointed as the Primary Servicer of one of the major Payroll Loan Companies in Mexico and Colombia (the “Company”). The Company has recently filed for Chapter 11 Bankruptcy in the US and Mexico and is undergoing a major restructuring process.

Gordon Lumber is a building products supplier and component manufacturer headquartered in Ohio and was originally formed in 1868. The new financing arrangement enhances Gordon’s ability to service the growing needs of its residential and commercial pro builders.

Gerber Finance, the leading finance partner for companies experiencing accelerated growth, today announced a $10MM line of credit to NorthCape International, a prominent manufacturer and wholesale distributor of outdoor furniture. The deal was made under Gerber Finance’s Gerber+ division, which provides customized services to businesses seeking funding ranging from $10 to $25 million.

Choozle, Inc. (“Choozle” or the “Company”), an industry-leading self-service digital advertising software platform, has announced the successful closing of a growth investment from Boathouse Capital (“Boathouse”). FocalPoint Securities, LLC (“FocalPoint”) served as Choozle’s exclusive financial advisor on the transaction.

PKF O’Connor Davies, LLP, one of the nation’s largest accounting, tax, and advisory firms, announced today that Clear Thinking Group, LLC, an award-winning national bankruptcy and restructuring consultancy based in Hillsborough, NJ, has joined the Firm. The company, which has spent the past two decades supporting clients at various stages of their life cycle with personalized, practical, and actionable solutions, joins the PKF O’Connor Davies team as PKF Clear Thinking, LLC.

SG Credit provided a $4.0 million SaaS acquisition facility to a corporate travel and entertainment software, data integration, and business intelligence (BI) provider for large enterprises and travel management companies. The buyer was an enterprise software operating company backed by private equity.

Horizon Technology Finance Corporation (NASDAQ: HRZN) ("Horizon"), a leading specialty finance company that provides capital in the form of secured loans to venture capital backed companies in the technology, life science, healthcare information and services, and sustainability industries, along with lending partner Trinity Capital Inc. (NASDAQ: TRIN) ("Trinity"), a leading provider of debt and equipment financing to growth stage companies, announced today that they provided a $40 million venture loan to Nexii Building Solutions Inc. ("Nexii"),

BankProv, an innovative, commercial bank that finds solutions for business and private clients, is expanding its Specialty Lending team to include Ryan Fox, Assistant Vice President, Specialty Lending, as the Bank pushes its full-service offering for the cryptocurrency community to the next level.

BHI, a full-service commercial bank, announced two strategic hires in California, both based in the firm’s Los Angeles Representative Office. James (Jimmy) Lee has been appointed Senior Vice President and Head of California Commercial & Industrial, overseeing the bank’s California C&I team providing financial solutions to West Coast C&I clients. Kevin Kim has been appointed First Vice President and Relationship Manager for the California C&I team.

Pacific Western Bank today announced it has provided a $25 million debt facility to existing client, Truvian Sciences (“Truvian”), a healthcare company paving the way in the blood testing industry with its automated diagnostic system that provides lab-accurate results at point-of care. The company will utilize the facility to accelerate growth initiatives and to further advance the development of its automated benchtop blood testing system.

Crestmark, the Commercial Finance Division of MetaBank®, N.A., secured a total of $3,550,000 in ABL/factoring financial solutions for eight new clients; Crestmark Equipment Finance provided $6,484,462 in four new transactions; Crestmark Vendor Finance provided $4,413,415 in 43 new transactions; and the Government Guaranteed Lending group provided $9,250,000 in financing for four new clients in the second half of August.

MidCap Financial, a leading commercial finance company focused on middle market transactions, today announced it has provided a senior secured credit facility, comprising an asset-based revolving line of credit and term loan to Rand McNally (“Company”). Proceeds from the MidCap credit facility will be used as growth capital and to provide for the business’ ongoing working capital needs.

ABC Carpet & Home, the four-story retail showroom based in Manhattan’s Flatiron District since 1897, is selling all of the company’s assets to 888 Capital Partners, a consortium of investors

Oportun Financial Corporation (NASDAQ: OPRT), an A.I.-driven financial services and technology company that provides hardworking people with access to responsible and affordable credit, today announced the closing of a new warehouse credit facility of $600 million, backed by a portion of Oportun’s unsecured and secured personal loans. The new facility includes commitments from Morgan Stanley Bank, N.A., Goldman Sachs Bank USA, Jefferies Funding LLC, and JPMorgan Chase Bank, N.A.

Global law firm Greenberg Traurig, LLP has added Shareholder William E. Turner II, to address increasing client demand for assistance with transactions and investments surrounding blockchain, other emerging technologies, and alternative financial models. Turner, who joined Greenberg Traurig's Chicago office and is part of the highly ranked Corporate Practice, focuses his practice on advising clients in commercial blockchain transactions, venture capital investments, and mergers and acquisitions

Mountainside LLC is pleased to announce their first deal, a $1.5 million bridge loan to a well-known real estate developer in Houston, TX. Mountainside recently formed a real estate bridge loan division that will provide short-term financing for commercial and residential properties. Loan durations will be between six months to three years and will be in the $250,000 to $2 million range.

Stonebriar Commercial Finance (“Stonebriar” or “the Company”) today announced the closing of a $64.5 million construction-to-permanent real estate financing with a premier real estate developer. This 85% loan-to-cost mortgage will finance the development of a triple-net, build-to-suit property for a tenant that the developer has successfully partnered with on prior projects.

Maynards Industries - Valuation Division is pleased to announce Michael R. Ostrom, ASA, CEA, ARM-MTS has earned the accredited professional designation of Appraisal Review & Management (ARM) within the Machinery & Technical Specialties discipline of the American Society of Appraisers.